Grain mail

The wheat futures in Chicago were the strongest link in the agricultural complex yesterday and gained significantly. The weaker US crop report, technical buying ahead of the long weekend (Thanksgiving) and the weaker US dollar exchange rate, which is making US grain less competitive in the world market, gave the market a boost. The USDA assessed the state of US winter wheat stocks to be worse than analysts expected. Only 43% of the holdings received the top rating of "good to excellent". That's a 3% decrease from the previous week. Analysts had expected an increase of one percentage point. Institutional investors bought 11,000 contracts of CBoT SRW wheat yesterday. At the moment the eCBoT is acting more firmly. At Euronext in Paris, the wheat futures followed the positive guidelines from overseas and closed all appointments with surcharges. Cash premiums in France remained stable as Chinese demand continued to absorb a large part of the reduced French surplus this year. On the cash market in Hamburg, the premiums for wheat with 12% protein for delivery in December remained unchanged at 4.50 euros via Paris on March 21.Ukraine used 66.5% of the wheat export quota for 2020/21 and shipped 11.63 million tons of the goods abroad in the July-June season, according to data from the Ministry of Economy.

Hansa Terminhandel GmbH
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